2023-11-25 07:00:19
It is almost established: the finance bill for 2024 should put an end to the retirement savings plan (PER) for minors. Intended to build additional income in retirement, the PER was subscribed to by certain heavily taxed households on behalf of their children. An arrangement valid as long as the child was attached to the tax household.
Until now, they saw this possibility as a good way to prepare for the future of their offspring, while immediately reducing their taxes. Parents could also open a PER in the name of their children, and save for them with the certainty that this money would not be squandered upon reaching the age of majority.
In the absence of income, each minor benefits from a retirement savings ceiling equal to 10% of the annual Social Security ceiling. “This year, this represents a deduction ceiling of 4,114 euros, to which the parents’ marginal tax bracket will apply, which does not represent a huge sum”indicates Benoît Berchebru, director of heritage engineering at Nortia.
Read our breakdown: Article reserved for our subscribers Retirement savings plan: everything you need to know before committing
For the minor, this solution made it possible to have an unlockable kitty for the purchase of their main residence. The exit is then taxed but at a tax rate a priori lower than that of the parents.
“Achieving coherence”
From January 1, 2024, it will no longer be possible to do this, unless the child is over 18 years old. Open plans will be frozen and payments will no longer be able to be made, but the young person will be able to regain control of them when they come of age. According to Bercy, this text is “a coherence”since “that was not the initial objective” to open the PER to children.
In addition, the government will launch during the first half of 2024 a product intended for younger people (you must be under 21 years old when opening): the future climate savings plan. This new investment will be a sort of variation of the PER with maturity management, the latter having to be calibrated to coincide with the entry into working life.
Also read our question to an expert: Pension reform: what impacts on the PER?
In any case, this plan will automatically close when the subscriber turns thirty. Fiscally, a significant advantage is provided for in the finance bill: earnings should be exempt from income tax and social security contributions.
Finally, a transfer possibility should be put in place for minors who already hold a PER. However, an unknown remains: will they be able to keep the tax advantage obtained upon entry?
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